The Jagenberg Group will discontinue the business activities of Jagenberg Paper GmbH in Germany due to the persistently poor market situation in the paper industry.
Bankruptcy
The agreements should reduce company's debt by approximately $1 billion.
Huhtamaki is planning to consolidate the production footprint in China in the Fiber Foodservice Europe-Asia-Oceania segment and will close its production sites in Tianjin and Shanghai by the end of Q2 2024.
About 300 employees impacted were informed earlier today, and discussions have been set up throughout this week to offer new opportunities or outplacement support.
Maryland-based company might proceed with the bankruptcy filing by the end of this week.
Over the coming weeks, Cascades will work closely with the 310 impacted employees to mitigate, where possible, the effect of this announcement. Employees who cannot or do not wish to relocate to other plants will receive support in their search for other employment.
Restoration Forest Products Group has initiated a consensual prepackaged court-supervised process under Chapter 11 of the U.S. Bankruptcy Code, which it expects to complete as expeditiously as possible. Upon completion, Invesco Senior Secured Management, Inc. will become the new majority owner of RFOR in partnership wi...
The closure is expected to impact 55 employees and Sonoco will offer severance benefits to the impacted employees.
Production of paper ended in December 2023. The closure of the site should be completed during the second calendar quarter of 2024.
Hampton Lumber indefinitely closes sawmill in Banks, Oregon, eliminating 58 jobs.
The closure of Maxville Sawmill will impact approximately 80 employees, while the indefinite curtailment of Huttig will impact 140 employees. In aggregate this will reduce West Fraser’s U.S. lumber capacity by approximately 270 million board feet.
The change negotiations at the Merikarvia sawmill concern all the sawmill’s 79 employees. The production would end by summer 2024.
Administrators appointed to Silva Timber Products.